Tariff Windfall Drives Surprise $27 Billion US Budget Surplus in June

Contact Your Elected Officials

A record-high tariff haul in June fueled a rare budget surplusโ€”and set the stage for even bigger collections ahead.

New data from the Treasury Department show that surging tariff revenues in June helped the U.S. government post an unexpected budget surplus of $27 billion, offering a rare fiscal bright spot amid persistently high federal deficits and suggesting that President Donald Trumpโ€™s tariff policies are becoming a significant source of government revenue.

After running a $316 billion deficit in May, the government recorded a surplus of just over $27 billion last month, according to data released on July 11 by the Treasury Department. The tariff windfall helped narrow the fiscal year-to-date deficit to $1.34 trillionโ€”a slight 1 percent improvement from the same period last year. By contrast, June 2024 saw a $71 billion deficit.

A key driver of the improved balance was a record-breaking surge in customs duties. The Treasury data released on Friday show that tariff collections soared to $27 billion in June alone, pushing total tariff revenues since October to $108 billionโ€”the highest ever recorded for the first nine months of a fiscal year. Juneโ€™s haul marked a significant jump from Mayโ€™s prior record of $22 billion and was about 93 percent higher than the $56 billion collected during the same nine-month span of the previous year.

So far in July, customs duties have added another $2.4 billion to federal coffers, according to daily Treasury figures.

Treasury Secretary Scott Bessent has predicted even higher tariff revenues in the months ahead. Speaking at a July 8 White House Cabinet meeting, he said the United States is on track to collect $300 billion by the end of calendar year 2025, noting that the โ€œmajorโ€ tariffs imposed under the Trump administration did not start until the second quarter.

Since returning to the White House for a second term, Trump has imposed 10 percent universal tariffs on trading partners, along with reciprocal tariffs announced in April on a number of nations, depending on the trade barriers they have with the United States. Trump initially applied a 90-day pause to most of the reciprocal tariffs, and later signed an executive order that extended the reprieve to Aug. 1.

By Tom Ozimek

Read Full Article on TheEpochTimes.com

The Epoch Times
The Epoch Timeshttps://www.theepochtimes.com/
Tired of biased news? The Epoch Times is truthful, factual news that other media outlets don't report. No spin. No agenda. Just honest journalism like it used to be.

Congress doesnโ€™t Care What the Average Person Thinks

In researching voting rights issues, a study provides a foundation for the statement โ€œgovernment officials donโ€™t care what people like them think.โ€

Domestic Terrorists Rain Adult Toys on WNBA Courts in Multiple Aerial Assaults

In what might be described as the worst terrorist attack on American soil since 9/11, multiple WNBA courts have been pelted with brutal flying missiles.

Democrats Are In Disastrous Shape As Midterms Loom

According to CNN's Harry Enten, โ€œThe Democratic brand is in the basement. It is total and complete garbage in the mind of the American public.โ€

A Primer on Conservatism

Conservatism is based on the maintenance and preservation of economic and governmental liberty of the individual citizen to choose what is best for their interests.

Woke Verses Folk Marketing Mayhem

For purposes of this article woke is about 10% of our population while folk is defined as the remaining 90% of our population.ย 

Data Centers, AI Infrastructure to Boost Electricity Sales by 175 Percent

Driven by new data centers and AI infrastructure, retail electricity sales to consumers in US are expected to grow at an annual rate of 2.2% in 2025 and 2026.

US Sanctions 5 Foreign Entities for Allegedly Aiding Iranian Military Drone Program

Treasury Dept sanctioned entities and individual based in Iran, China, Taiwan, and HK for aiding Iranโ€™s military aircraft and drone company to procure tech.

Trump Orders Nuclear Submarines Moved After Former Russian Presidentโ€™s Comments

Trump confirmed he ordered two Nuclear Submarines to be positioned in appropriate regions, in case Putin's inflammatory statements are more than just that.

American Eagle Responds to Critics Over Ad With Sydney Sweeney

In a statement posted on American Eagleโ€™s Instagram account on Friday, the retailer said the ad campaign โ€œis and always was about the jeans.

Trump Says Americans Could Get Dividends From Tariff Revenues

President Donald Trump suggested on Sunday that his administration could distribute dividends from tariff revenues to Americans with certain income levels.

Tariff Rates โ€˜Pretty Much Set,โ€™ Says US Trade Representative

President Trumpโ€™s trade representative, Jamieson Greer, said that Americans should expect the administrationโ€™s tariff levels to remain where they are.

White House Officials Say Trump Had โ€˜Real Concernsโ€™ With Top Labor Official Before Firing Her

White House officials said it was necessary to fire former Bureau of Labor Statistics head Erika McEntarfer following release of lower-than-expected jobs report.

Trump Admin Cancels $26 Million Funding for Baltimore-DC Maglev Train Project

The FRA will cancel two grants worth more than $26 million for the Baltimore-Washington Superconducting Magnetic Levitation (SCMAGLEV) project.
spot_img

Related Articles